SJM Holdings ( (SJMHF) ) has released its Q3 earnings. Here is a breakdown of the information SJM Holdings presented to its investors.
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SJM Holdings Limited is a prominent player in the gaming and hospitality industry, operating a range of casinos and resorts primarily in Macau. The company is known for its flagship properties like the Grand Lisboa and Grand Lisboa Palace Resort.
In its latest earnings report for the third quarter of 2025, SJM Holdings reported a slight decline in net gaming revenue compared to the previous year, with figures showing HK$6,537 million for Q3 2025, down from HK$6,995 million in Q3 2024. Despite this, the company saw a modest increase in net gaming revenue for the first nine months of 2025 compared to the same period in 2024.
Key financial metrics revealed a decrease in adjusted EBITDA to HK$881 million in Q3 2025 from HK$1,037 million in Q3 2024, reflecting a challenging market environment. The adjusted EBITDA margin also saw a decline, indicating tighter profit margins. Additionally, the Grand Lisboa Palace Resort and Grand Lisboa both experienced reductions in their adjusted property EBITDA, pointing to operational challenges.
The company’s balance sheet showed HK$3,448 million in cash and bank balances, with a significant debt load of HK$27,312 million. Despite these challenges, SJM Holdings maintains substantial banking facilities, including a term loan and revolving credit, providing financial flexibility.
Looking ahead, SJM Holdings remains focused on navigating the competitive landscape of the gaming industry while leveraging its established properties and banking facilities to support future growth and operational stability.